Protagonist Therapeutics (NASDAQ:PTGX) Given New $72.00 Price Target at BMO Capital Markets

Protagonist Therapeutics (NASDAQ:PTGX) had its target price hoisted by equities research analysts at BMO Capital Markets from $62.00 to $72.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. BMO Capital Markets’ price target would indicate a potential upside of 28.69% from the stock’s current price.

Several other equities research analysts have also recently issued reports on the stock. JMP Securities reaffirmed a “market outperform” rating and set a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 7th. JPMorgan Chase & Co. boosted their price target on shares of Protagonist Therapeutics from $53.00 to $57.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. BTIG Research set a $73.00 price objective on shares of Protagonist Therapeutics in a report on Monday, March 3rd. Wedbush reissued an “outperform” rating and issued a $58.00 target price on shares of Protagonist Therapeutics in a research note on Friday, February 21st. Finally, The Goldman Sachs Group dropped their price target on Protagonist Therapeutics from $43.00 to $38.00 and set a “neutral” rating for the company in a research report on Monday, February 24th. Two equities research analysts have rated the stock with a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Protagonist Therapeutics currently has a consensus rating of “Moderate Buy” and an average target price of $59.44.

Protagonist Therapeutics Trading Up 45.9 %

Shares of Protagonist Therapeutics stock opened at $55.95 on Tuesday. Protagonist Therapeutics has a twelve month low of $24.22 and a twelve month high of $57.97. The firm’s 50-day moving average price is $38.20 and its 200 day moving average price is $41.82. The firm has a market capitalization of $3.43 billion, a PE ratio of 21.03 and a beta of 2.34.

Protagonist Therapeutics (NASDAQ:PTGX) last released its earnings results on Friday, February 21st. The company reported $1.98 earnings per share for the quarter, beating the consensus estimate of ($0.09) by $2.07. Protagonist Therapeutics had a return on equity of 34.68% and a net margin of 52.76%. The business had revenue of $170.64 million for the quarter, compared to the consensus estimate of $56.65 million. On average, sell-side analysts predict that Protagonist Therapeutics will post 2.43 EPS for the current fiscal year.

Insider Activity at Protagonist Therapeutics

In related news, CEO Dinesh V. Ph D. Patel sold 5,359 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $38.18, for a total transaction of $204,606.62. Following the completion of the sale, the chief executive officer now directly owns 540,260 shares of the company’s stock, valued at approximately $20,627,126.80. This trade represents a 0.98 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 5.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Pacer Advisors Inc. raised its stake in shares of Protagonist Therapeutics by 405,061.2% in the 3rd quarter. Pacer Advisors Inc. now owns 1,734,090 shares of the company’s stock valued at $78,034,000 after acquiring an additional 1,733,662 shares during the period. State Street Corp increased its holdings in Protagonist Therapeutics by 52.9% in the 3rd quarter. State Street Corp now owns 3,183,542 shares of the company’s stock valued at $143,259,000 after purchasing an additional 1,101,218 shares during the last quarter. Deep Track Capital LP purchased a new stake in Protagonist Therapeutics in the fourth quarter valued at approximately $38,600,000. Wellington Management Group LLP raised its position in Protagonist Therapeutics by 3,025.4% in the fourth quarter. Wellington Management Group LLP now owns 940,077 shares of the company’s stock valued at $36,287,000 after purchasing an additional 909,998 shares during the period. Finally, American Century Companies Inc. lifted its stake in Protagonist Therapeutics by 61.5% during the fourth quarter. American Century Companies Inc. now owns 928,286 shares of the company’s stock worth $35,832,000 after purchasing an additional 353,511 shares in the last quarter. Institutional investors and hedge funds own 98.63% of the company’s stock.

Protagonist Therapeutics Company Profile

Protagonist Therapeutics, Inc, a biopharmaceutical company, develops peptide-based drugs for hematology and blood disorders, and inflammatory and immunomodulatory diseases. It is developing Rusfertide (PTG-300), an injectable hepcidin mimetic that completed phase 2 clinical trials for the treatment of polycythemia vera and other blood disorders; and JNJ-2113, an orally delivered investigational drug to block biological pathways that completed phase 2b clinical trials for the treatment of moderate-to-severe plaque psoriasis; and PN-943, an orally delivered, gut-restricted alpha 4 beta 7 specific integrin antagonist completed a phase 2 clinical trials in patients with moderate to severe ulcerative colitis.